Sumitomo Mitsui DS Asset Management Company Ltd Grows Holdings in Palantir Technologies Inc. (NYSE:PLTR)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Palantir Technologies Inc. (NYSE:PLTR) by 13.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 151,224 shares of the company’s stock after purchasing an additional 17,485 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Palantir Technologies were worth $2,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Palantir Technologies by 11.1% in the 3rd quarter. Vanguard Group Inc. now owns 187,338,667 shares of the company’s stock valued at $2,997,419,000 after purchasing an additional 18,756,392 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Palantir Technologies by 26.1% during the 3rd quarter. Morgan Stanley now owns 22,614,555 shares of the company’s stock worth $361,833,000 after acquiring an additional 4,675,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Palantir Technologies by 8.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,590,729 shares of the company’s stock worth $216,183,000 after acquiring an additional 955,992 shares during the period. Northern Trust Corp lifted its holdings in shares of Palantir Technologies by 5.5% during the 3rd quarter. Northern Trust Corp now owns 11,498,685 shares of the company’s stock worth $183,979,000 after acquiring an additional 601,012 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in shares of Palantir Technologies by 16.1% during the 4th quarter. ARK Investment Management LLC now owns 10,937,859 shares of the company’s stock worth $187,803,000 after acquiring an additional 1,514,232 shares during the period. 45.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Heather A. Planishek sold 32,828 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total transaction of $851,886.60. Following the completion of the transaction, the insider now directly owns 662,006 shares in the company, valued at approximately $17,179,055.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Ryan D. Taylor sold 120,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $22.00, for a total transaction of $2,640,000.00. Following the completion of the transaction, the insider now directly owns 181,460 shares in the company, valued at approximately $3,992,120. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Heather A. Planishek sold 32,828 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.95, for a total value of $851,886.60. Following the transaction, the insider now owns 662,006 shares in the company, valued at $17,179,055.70. The disclosure for this sale can be found here. In the last three months, insiders sold 7,456,273 shares of company stock worth $184,343,202. 13.96% of the stock is currently owned by insiders.

Analyst Ratings Changes

PLTR has been the topic of several recent analyst reports. Bank of America increased their price objective on shares of Palantir Technologies from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Wedbush reissued an “outperform” rating and set a $35.00 target price (up previously from $30.00) on shares of Palantir Technologies in a research report on Friday, March 8th. Royal Bank of Canada reissued an “underperform” rating and set a $5.00 target price on shares of Palantir Technologies in a research report on Tuesday, February 6th. Citigroup raised shares of Palantir Technologies from a “sell” rating to a “neutral” rating and increased their target price for the stock from $10.00 to $20.00 in a research report on Tuesday, February 6th. Finally, Monness Crespi & Hardt downgraded shares of Palantir Technologies from a “neutral” rating to a “sell” rating and set a $20.00 target price for the company. in a research report on Thursday, March 28th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.35.

Palantir Technologies Stock Up 3.2 %

Shares of NYSE:PLTR opened at $21.64 on Wednesday. Palantir Technologies Inc. has a 52-week low of $7.28 and a 52-week high of $27.50. The company has a 50 day moving average of $23.64 and a two-hundred day moving average of $19.99. The company has a market capitalization of $47.87 billion, a price-to-earnings ratio of 240.42, a price-to-earnings-growth ratio of 5.14 and a beta of 2.78.

Palantir Technologies (NYSE:PLTR) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Palantir Technologies had a net margin of 9.43% and a return on equity of 6.17%. The firm had revenue of $608.35 million during the quarter, compared to analyst estimates of $603.48 million. On average, equities analysts anticipate that Palantir Technologies Inc. will post 0.16 earnings per share for the current year.

About Palantir Technologies

Palantir Technologies Inc builds and deploys software platforms for the intelligence community to assist in counterterrorism investigations and operations in the United States, the United Kingdom, and internationally. The company provides Palantir Gotham, a software platform which enables users to identify patterns hidden deep within datasets, ranging from signals intelligence sources to reports from confidential informants, as well as facilitates the handoff between analysts and operational users, helping operators plan and execute real-world responses to threats that have been identified within the platform.